Bill aims at stopping US lawmaker bets on their own elections ahead of midterms
Summary
Representative Don Davis introduced the No Betting on Your Own Race Act, which would bar federal candidates, their campaigns, spouses and children from trading contracts tied to the candidate’s election. Violations could bring a $10,000 civil penalty or a penalty equal to three times the potential gain. The bill appears aimed at prediction-market election contracts, though it does not name platforms such as Kalshi or Polymarket. It is unlikely to receive consideration before the 2026 midterms because Congress is out of session until November. Election contracts remain available on both platforms. The report also notes that Kalshi suspended candidate Laurie Buckhout for three years and fined her $2,590 over trades tied to her race.
